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Rules of Practice 1994 (S.R. 1994, No. 229)
|Requested: 29 Mar 2017|
|Consolidated as at: 17 Mar 2006|
Division 1 - Receipts
17. Receipt books
(1) A firm must maintain a separate receipt book for each trust bank account established and maintained by it.
(2) A trust bank account receipt book is to be clearly identified as a trust bank account receipt book.
(1) A firm must ensure that a receipt is written for any trust money received by it for or on behalf of a client.
(2) A receipt of trust money is to contain the following:
(a) the date of issue of the receipt and the date of receipt of the money, if different;
(b) the amount of money received;
(c) the form in which the money was received;
(d) the name of the person from whom the money was received;
(e) the name of the person on whose behalf the money was received;
(f) clear identification of the ledger account to be credited;
(g) the description of the matter;
(h) the purpose for which the money was received;
(i) the signature of the person who issued the receipt or the name of the firm.
19. Numbering and identification of receipts
A firm must ensure that receipts
(a) are consecutively numbered; and
(b) identified as trust bank account receipts.
20. Duplicate receipts
A firm must issue a duplicate receipt if the details contained on the receipt are not entered into the cash book when the receipt is issued.